Friday, June 24, 2011

Are You a Millionaire?

I was at the gym early this morning watching a morning show whilst riding the exercise bike.

The presenter was talking about the fact that there has been a reasonable increase in the numbers of millionaires in Australia in the last month.

Whilst they were talking around this fact, they were showing shots of Ferraris', Maseratis', Aston Martins', expensive jewellery and large houses.

This is typical of the media these days - trying to give the impression that a millionaire lives the life of luxury.

The reality is that a millionare these days is, infact, not necessarily a wealthy person. A small single fronted terrace house in inner Melbourne costs over $1m these days.

All the true millionaires I know these days are not flashy - they understand that buying luxury cars is detrimental to wealth creation. In fact, they probably live next door to you, and you don't even know it.

Many that drive these luxury cars are aspiring to be wealthy but will never make it - it's just a look or perception of wealth. Or as we say Big hat, little cattle!

I recommend that you read the book "The Millionaire Next Door" - it puts everything in perspective!

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